Lawn, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Lawn, Newfoundland and Labrador is currently experiencing a period of steady growth. The median house price is at $485,000, which represents a year-over-year increase of 4%. This suggests that the housing market is appreciating at a modest pace. Similarly, the median apartment price has reached $295,000, with a slightly lower growth rate of 2.5% year-over-year. Such trends indicate a balanced growth across different types of residential properties.
The population of Lawn has been growing at a notable rate of 4.8%, suggesting an increasing demand for housing in the area. This demographic trend can be an important driver of real estate prices and demand in both the short and long term.
Investment Opportunities and Potential
The steady increase in property values coupled with significant population growth presents various investment opportunities in Lawn. The consistent appreciation trend provides investors with confidence in the long-term value retention and potential capital gains for both houses and apartments.
For individual investors or those interested in rental properties, the growing population may indicate a rising demand for rental accommodations, potentially leading to favorable rental yield prospects. Developers may also find opportunities in creating new residential projects to meet the burgeoning housing demand driven by the increasing population.
Future Market Outlook
The future market outlook for Lawn appears optimistic based on current trends. If the population continues to grow at the current rate, it is likely that demand for housing will sustain or even increase, which could further drive up property prices. The consistent growth pattern in property values suggests that the market is stable and likely to provide sound investment returns over time.
However, it is important for investors to keep an eye on national economic indicators and regional developments that could affect local real estate markets. Factors such as employment rates, industry growth, and government policies related to housing can all impact future market conditions in Lawn.
In summary, Lawn’s real estate market currently shows positive signs for both short-term stability and long-term growth potential, making it an attractive market for investors seeking opportunities in Newfoundland and Labrador.
